The Qatar Stock Exchange on Wednesday witnessed modest buying in Islamic equities and five of the seven sectors were under buying spotlight; yet it settled marginally down.
Notwithstanding that about 66% of the traded constituents extended gains; the 20-stock Qatar Index was down 0.03% to 10,391.86 points, although it touched an intraday high of 10,460 points.
The banking and telecom counters witnessed higher than average selling in the market, whose year-to-date losses were at 0.32%.
Domestic and Gulf institutions were seen net profit takers in the bourse, which otherwise saw increased buying support from the foreign funds.
Market capitalisation saw about QR1bn or 0.16% decline to QR597.63bn, mainly owing to midcap segments.
A total of 16,671 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued together at QR104,611 changed hands across four deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the increase in the bourse, where the consumer goods, industrials and realty sectors together accounted for about 73% of the total trading volume.
The Total Return Index was down 0.03% to 19,978 points and All Share Index by 0.2% to 3,188.38 points, while Al Rayan Islamic Index (Price) grew 0.45% to 2,383.52 points.
The banks and financial services index shrank 0.76% and telecom (0.68%); while transport gained 1.17%, real estate (1.04%), consumer goods and services (0.67%), insurance (0.5%) and industrials (0.21%).
Major losers included QNB, Ahlibank Qatar, Medicare Group, Al Khaliji, Ooredoo and Qatar Islamic Bank; whereas Inma Holding, Baladna, Qatari German Medical Devices, Qatar First Bank, Dlala, Doha Bank, Al Meera, Qamco, Ezdan and Nakilat were among the gainers.
Domestic funds turned net sellers to the tune of QR72.51mn compared with net buyers of QR10.96mn on December 1.
The Gulf institutions were net sellers to the extent of QR3.35mn against net buyers of QR1.54mn the previous day.
The Arab institutions turned net sellers to the tune of QR3.17mn compared with no major exposure on Tuesday.
The foreign individuals’ net profit booking increased marginally to QR2.57mn against QR2.06mn on December 1.
However, foreign funds’ net buying grew significantly to QR80.58mn compared to QR46.47mn the previous day.
The Gulf individuals were net buyers to the extent of QR6.26mn against net sellers of QR2.57mn on Tuesday.
Qatari individuals’ net selling declined considerably to QR1.54mn compared to QR44.25mn on December 1.
The Arab individuals’ net profit booking eased notably to QR3.69mn against QR10.22mn the previous day.
Total trade volumes rose 65% to 391.92mn shares, value by 50% to QR858.11mn and transactions by 12% to 14,669.
The consumer goods and services sector’s trade volume more than tripled to 113.96mn equities and value almost tripled to QR203.07mn on more than doubled deals to 2,881.
The real estate sector reported 64% surge in trade volume to 80.21mn stocks, 62% in value to QR131.99mn and 32% in transactions to 2,613.
The industrials sector’s trade volume zoomed 49% to 91.21mn shares, value by 36% to QR110.75mn and deals by 1% to 2,551.
There was 38% expansion in the transport sector’s trade volume to 28.43mn equities, 50% in value to QR103.97mn and 8% in transactions to 1,755.
The telecom sector’s trade volume soared 38% to 4.09mn stocks, value by 35% to QR16.58mn and deals by 33% to 632.
The banks and financial services sector saw 25% jump in trade volume to 71.38n shares and 21% in value to QR285.07mn but on 14% decline in transactions to 3,964.
However, the insurance sector’s trade volume plummeted 71% to 2.65mn stocks, value by 69% to QR6.68mn and deals by 37% to 273.